Boeing (BA) launched its 737 Max 10 at the Paris Air Show as expected Monday, saying it has over 240 orders and commitments worth roughly $30 billion.
The largest model in the 737 family can carry up to 230 passengers, 10-15 more than the 737 Max 9, and will have 5% lower seat-mile costs over competing models, according to Boeing. It should enter service in 2020.
The plane features LEAP-1B engines produced by CFM International, a joint venture between General Electric (GE) Aviation and France's Safran Aircraft Engines.
Boeing shares climbed 1.35% to a new high of 199.10 in afternoon trading on the stock market today, rising further above buy zone. GE dipped 0.45%. Airbus (EADSY) rallied 1.6%.
Boeing's Max 10 customers include:
United Airlines (UAL) is also expected to announce orders for the Max 10 later this week.
The Max 10 is widely viewed as a stop gap until Boeing can build a brand-new midrange plane, informally dubbed the "797" by some in the industry, to take back market shares from Airbus' A321neo, which can seat up to 240.
- Indonesia's Lion Air announced a commitment for 50 737 MAX 10 airplanes valued at approximately $6.24 billion at list prices.
- Singapore's BOC Aviation Limited ordered 10 valued at $1.25 billion at list prices. The leasing company has another 74 planes from the 737 Max family on order.
- GE Capital Aviation Services ordered 20, converting 20 of its current Max orders into the larger variant.
- Tibet Financial Leasing today signed a memorandum of understanding for 20 737 Max planes split between the Max 8 and Max 10 variants. The order is valued at $2.5 billion at list prices.
- India's SpiceJet signed a memorandum of understanding for 40 737 Max airplanes valued at $4.7 billion at list prices. The order includes 20 737 Max 10 orders and the conversion of 20 Max 8 aircraft to the larger Max 10 variant.
- China's CDB Aviation Lease Finance signed a memorandum of understanding for 42 737 MAX 8s, 10 737 MAX 10s and eight 787-9 Dreamliners. The total deal is valued at $7.4 billion at list prices.
But not everyone wanted the Max 10. Kuwait-based ALAFCO Aviation Lease and Finance Company announced a commitment for 20 737 MAX 8s, valued at $2.2 billion at list prices.
Narrow-body jets took center stage, but there were some widebody orders. Leasing firm AerCap (AER) announced an order for 30 Boeing 787-9 Dreamliners, valued at $81. billion at list prices.
On Sunday, Airbus unveiled its A380plus, which includes new stairways and cabin rest area and a new wingtip design to reduce fuel consumption by up to 4%.
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